Page 3 - Deficit Neutral News Today

And what youve seen with the health care right now is when one party tries to ram through a policy, its not good. and the problem republicans have right now is their disagreement within their own party as to what tax reform should look like. theres disagreement in the white house what the tax rate should be, disagreements between the white house and congressional republicans about issues like the border entrustment tax, also the broader issue about how you pay for tax reform. theyve made a commi...

For them? >> tax cuts, or tax reform should be deficit neutral. and we have that in our budget that it will be required to be deficit neutral. i want to be sure that people understand that that will be deficit neutral by using the tax provisions. when we talk about mandatory spending and the cuts in the mandatory spending and saving of $200 billion thats paying for deficit reduction. that does not go for tax cuts. its two different avenues. >> neil: you use dynamic accounting, i dont want to get...

His internet companies, we need to help the brick and mortar stores. brick and mortar stores have an online presence, talking macys or walmart, theyre some of the biggest online retailers out there. what exactly is the president suggesting? if he said forget the border adjustment tax, but wants to help brick and mortar, i dont understand. >> well, it is a good question. i think the president has -- may have abandoned the border adjustment tax. im not sure he abandoned the idea of punitive tariff...

Is that doable? are you afraid if it isnt done, then there could be trouble? >> its doable, if we can put it a priority and go to work. no, its not going to sell well. its not going to sell well to my voters in the fifth district if we dont come away with anything. deadlock cannot continue to be an option. the last eight years has been deadlock. a lot of the legislation that president obama had was bad. >> neil: im -- i want to be clear on the tax cut thing. that is this notion that some in your...

They assume theyll cut taxes by $6 trillion but somehow that will be deficit neutral. either theyre fluffing the numbers and expect meerkts, or theyre not telling us about $6 trillion worth of tax likes. >> so in some ways, were counting the same thing. were going to unleash animal spirits. business will take off. tax revenues are growing up. if the assumptions are wrong, all the numbers end up wrong. >> either youre talking about a major tax cut that will in your mind produce speck spend growth...

American people a full repeal of obamacare. >> this is not that. >> this is not even close to a full repeal. so youre going to have the same dynamics at play in the senate where i think you have less of a political imperative to move fast. so the speaker of the house thought the president of the united states demanded they do this in the house now because he wanted a trophy. heres the question, is it a participation trophy or do they get the final trophy? >> thats obviously the big question. i w...

Have lower taxes today but they know that tax rate is going up later, they wont spend as much money. that does -- brian: need the 60 votes in the senate, right? >> need the 60 votes in the senate or do it reconciliation but it has to be deficit neutral. ainsley: where you need 51. >> thretiond needles here. ainsley: does make competitive with china. chinas rate is 15%. if we want to keep corporations here. >> our corporate rate is very high right now. if we lower it and its permanent and busines...

Deficit neutral. the question will be if you substantially lower rates how do you pay for it? thats something we expect to hear a lot about in the weeks ahead. bottom line a lot of positive energy here on capitol hill. excited the president is weighing in on one of their key legislative priorities. >> bill: always interesting to see them walk so fast through those hallways. i dont know if they try to avoid you or have a lot to do. the latest on the efforts to revive healthcare reform and funding...

Lower rates on individual americans and on the business community as well. and i would like to try to attract profits from abroad back to this country and i think an analysis will indicate that is possible. i certainly want to see the details and from the perspective of the district i serve, steve, in new jersey, i would milike t preserve the deduction of local taxes because as you know, we have very high property taxes in new jersey. >> right. right now also in this bluepr t blueprint, state, l...

Filibuster, it has to be deficit neutral. we have to have deficit neutral tax reform. 20% we know is deficit neutral. 20% gets us there. 15% isnt deficit neutral. >> and so, david, all that translates to is if you cut the corporate rate that low, youre going to lose tax revenue to such a degree that procedurally you wont be allowed to use the 50 vote strategy in the senate. >> thats right. and tax reform is no easier than health care. listen, the travel ban was a lie. health care for all was a l...